The last decade has witnessed the evolution in the model of work. The remote work culture has given a new direction to the world.
However, not everyone is comfortable with the setup. That’s where the hybrid work model comes into the picture. The hybrid model creates an equilibrium between working from home and working from the office.
Irrespective of how the company functions, the primary goal should be to determine the efficacy of productivity.
Productivity metrics is the tool that determines how efficiently the employees are completing the given assignment and utilizing their time to achieve the goal.
If a company is supposed to determine the productivity of the sales team, it will evaluate the key metrics like time frame to finish the task, value of the sale, number of phone calls done by the team to convert leads, and finally the number of sales generated.
How To Measure Productivity?
There are five efficient ways to measure productivity in the hybrid work system.
360 Degree Feedback: This is a qualitative productivity metric where colleagues give feedback about each other. This method is usually conducted among close networks as it is very straightforward and effective for people who work in close association.
Management By Objectives: This method determines how employee output contributes to the company’s overall growth. To run this effectively, you need to have departmental SMART goals. If the goal is not fulfilled, you can zero down on the source and track the progress of the particular employee.
Planned To Done Ratio: As the name suggests, this method gives a clear picture of what was planned and what has been done. To get the result, you need to divide the number of tasks assigned by the number of tasks accomplished and then turn it into a percentage.
It majorly helps in two things:
To assess individual performance.
To assess team performance.
The plan to done ratio will help you understand which employee or team needs to put more effort.
Time Management Productivity: This method assesses how effectively an employee uses his time. Companies mostly use time tracking software to know how the employees utilize their work hours and how much time is consumed to complete a particular assignment.
Productivity By Profit: This method is crucial to help your business grow. Productivity by Profit means evaluating the revenue collected by a particular task. This will help you to focus on those tasks that attract more audience or add more value.